To answer this question, a definition of the term ESSSENCE is needed. One definition is: Essence is the intrinsic nature or indispensable quality of something, especially something abstract, which determines its character.
Water is not abstract, but, in my opinion, what determines its properties is that the water molecule contains 2 atoms of hydrogen and one atom of oxygen, summarised by the chemical notation H2O.
Alchemists named "essence" the product of the distillation of a mixture. For example, essential oils are obtained by distillation of plants. With this definition, water has no essence (or is its own essence), since it is a pure component.
By the way, I don't understand why or how you associate H with light, 2 with energy and O with matter. Could you explain?